The US dollar slumped as President Trump’s tariff announcement sent shockwaves through global markets. With a 10% baseline tariff on imports, fears of a global economic slowdown intensified. Investors sought safe havens as stock markets and currencies faltered.
The US dollar slid while the euro firmed after President Donald Trump announced harsh new tariffs on imports, sending shockwaves through global markets. The 10% baseline tariff, with higher levies on key trading partners, is set to take effect on April 9, impacting around 60 countries.
The move escalates trade tensions, fuelling fears of a global economic slowdown. Investors scrambled for safe-haven assets, boosting the yen and Swiss franc, while US Treasury yields plunged. Stock markets also suffered as concerns over inflation and retaliatory measures grew.
European Commission President Ursula von der Leyen warned of potential countermeasures if diplomatic talks with Washington fail. Meanwhile, the euro strengthened, while the British pound surged to a five-month high. In contrast, Asian currencies weakened, with China’s yuan hitting a two-month low.
Market analysts caution that prolonged trade disruptions could weigh heavily on the US economy, increasing the likelihood of recession. However, some experts suggest Trump’s aggressive stance may be a negotiation tactic rather than a long-term economic strategy. As global markets remain on edge, investors await further developments that could determine the course of the unfolding trade conflict.
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Start your day informed with AnewZ Morning Brief: here are the top news stories for the 19th of November, covering the latest developments you need to know.
A new artificial intelligence breakthrough from China is stirring debate across the global tech community, with many calling it another “DeepSeek moment.”
The United Nations Secretary-General, António Guterres, warned on Tuesday that humanity has failed to limit global warming to 1.5°C and must take urgent action.
The U.N. weather agency plans to cut some posts and is reviewing its priorities as dozens of countries, including the United States, are late with their fees, a spokesperson said on Friday.
The United States is preparing to launch a new round of Venezuela-related operations in the coming days, as President Donald Trump’s administration intensifies efforts to pressure President Nicolás Maduro’s government and targets what it calls Venezuela’s role in the regional drug trade.
Italy captured a remarkable third consecutive Davis Cup title on Sunday, with Matteo Berrettini and Flavio Cobolli securing singles victories in a 2-0 triumph over Spain in Bologna.
Cameras from the United States Geological Survey (USGS) on Saturday (November 22) captured Hawaii's Kilauea volcano spewing flowing lava from its crater in its latest eruption.
Air traffic at Eindhoven Airport in the southern Netherlands was suspended on Saturday evening after multiple drones were sighted near the facility, prompting the deployment of counter-drone systems and raising fresh alarm over airspace security in Europe.
Several international airlines have suspended flights from Venezuela after the U.S. Federal Aviation Administration (FAA) warned of heightened military activity and deteriorating security conditions in the country’s airspace.
Google has announced a major update for its Pixel 10 series: owners can now send and receive files with Apple devices using AirDrop, without any collaboration from Apple. The new functionality applies to iPhones, iPads, and macOS devices, though for now it is limited to the Pixel 10 line.
European shares climbed on Thursday, as a relief rally swept through global markets after artificial intelligence (AI) bellwether Nvidia reported strong earnings, while investors awaited the release of delayed U.S. jobs data.
Mainland China and Hong Kong equities slipped on Tuesday, Reuters reported, as investors grew cautious ahead of delayed U.S. economic data expected to clarify the Federal Reserve’s policy outlook.
A federal jury in California ruled on Friday that Apple must pay $634 million to Masimo, a medical-monitoring technology company, for infringing a patent related to blood-oxygen reading technology.
Wall Street closed sharply lower on Thursday, dragged down by steep losses in Nvidia, Tesla, and other artificial-intelligence heavyweights, as investors dialed back expectations for further Federal Reserve interest-rate cuts amid renewed inflation concerns and mixed signals from policymakers.
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